US ferrous scrap prices for April delivery settled $20-40/gt ($20-41/mt) less this week during monthly April buy-cycle negotiations on the heels of a potential peak in the price of domestic finished steel prices amid considerable market jitters concerning the potential effects of tariffs, market insiders told SteelOrbis. Recent first quarter gains in finished steel and scrap pricing, they said, were encouraging the entry of more imports into the US, therefore mills were increasingly reluctant to continue to raise price offers.
Overseas, increasing negative sentiment in Turkey’s import scrap market caused scrap procurement prices to collapse nearly nine percent on the week to $350/mt CFR, erasing gains recorded since early February. Insiders told SteelOrbis mill buyers have little appetite for new scrap amid negative global market sentiment.
US settled scrap prices are below:
| US Northeast | April | March | Monthly Change |
| Delivered to customer | |||
| HMS I | $351-366/mt | $381-396/mt | Down $30/mt from March |
| $345-360/gt | $375-390/gt | Down $30/gt from March | |
| Shredded | $370-382/mt | $411-422/mt | Down $41/mt from March |
| $365-375/gt | $405-415/gt | Down $40/gt from March | |
| P&S | $340-350/mt | $381-391/mt | Down $41/mt from March |
| $335-345/gt | $375-385/gt | Down $40/gt from March | |
| Busheling | $417-437/mt | $437-457/mt | Down $20/mt from March |
| $410-430/gt | $430-450/gt | Down $20/gt from March |
